New Delhi, Jun 25 (PTI) Telecom operators placed bids worth about Rs 11,000 crore on the first day of the spectrum auction that saw five rounds of bidding, according to sources.

The government has put over 10,500 Mhz spectrum valued at Rs 96,238 crore on the block.

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“Telecom operators have placed bids of around Rs 11,000 crore on Day 1. The auction will resume on Wednesday,” a source aware of the development said.

According to the Day 1 spectrum auction report issued by the Department of Telecom, biddings took place mainly in the 900 and 1800 Mhz bands.

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Reliance Jio, Bharti Airtel and Vodafone Idea are participating in the auction.

Reliance Jio has deposited the highest earnest money of Rs 3,000 crore for the spectrum auction, which provides the company with the firepower to bid for maximum radiowaves among the three telcos.

Bharti Airtel has submitted an EMD of Rs 1,050 crore and Vodafone Idea (VIL) of Rs 300 crore.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)